4 ms·

You can say that, but I don't see many wealthy Americans parking their money made in the US in China, whereas there are a multitude of Chinese citizens investin

by dageshi 10y ago

You can say that, but I don't see many wealthy Americans parking their money made in the US in China, whereas there are a multitude of Chinese citizens investing in the North America/Europe as a means of safeguarding their capital. I think that's somewhat telling in terms of which legal system is trusted more.

stcredzero 10y ago
You transformed a factual "The same sorts of things happen. (severity unspecified)" to "It's just as bad in the US as China!" Congrats on reading things into someone else's text and displaying your biases.
- dageshi 10y ago
  I guess I read it that way because merely stating "The same sorts of things happen. (severity unspecified)" is pretty pointless when the severity and its effects on doing business are the only really relevant thing that matters in this conversation?
  - stcredzero 10y ago
    I think it's plenty relevant that the US has the same kinds of flaws in its system, and that the differences are really differences in degree and not kind. (As large as those differences in degree might be in certain places.) I think that's a very important bit of perspective.
awongh 10y ago
That's only kind of true. They park it in other places besides China: http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-million.html http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-m...
- dageshi 10y ago
  Granted... but they're not parking it in China are they? So in terms of places you put your money being sure you'll get it back, China is not very high on that list for a number of reasons.
  - smallnamespace 10y ago
    Asset prices in China are grossly inflated because of 1) capital controls and 2) China has been running large trade surpluses for about 2 decades. It would make sound financial sense for any rich person to move as many assets as they could out of the country, regardless of whether the nation's institutions were trustworthy.

by dageshi 10y ago

stcredzero 10y ago

You transformed a factual "The same sorts of things happen. (severity unspecified)" to "It's just as bad in the US as China!" Congrats on reading things into someone else's text and displaying your biases.

dageshi 10y ago
I guess I read it that way because merely stating "The same sorts of things happen. (severity unspecified)" is pretty pointless when the severity and its effects on doing business are the only really relevant thing that matters in this conversation?
- stcredzero 10y ago
  I think it's plenty relevant that the US has the same kinds of flaws in its system, and that the differences are really differences in degree and not kind. (As large as those differences in degree might be in certain places.) I think that's a very important bit of perspective.

awongh 10y ago

That's only kind of true. They park it in other places besides China: http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-million.html http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-m...

dageshi 10y ago
Granted... but they're not parking it in China are they? So in terms of places you put your money being sure you'll get it back, China is not very high on that list for a number of reasons.
- smallnamespace 10y ago
  Asset prices in China are grossly inflated because of 1) capital controls and 2) China has been running large trade surpluses for about 2 decades. It would make sound financial sense for any rich person to move as many assets as they could out of the country, regardless of whether the nation's institutions were trustworthy.